First Solar, Inc. (NASDAQ:FSLR) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems decreased its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 1.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,279 shares of the solar cell manufacturer’s stock after selling 77 shares during the quarter. Kentucky Retirement Systems’ holdings in First Solar were worth $920,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Garde Capital Inc. purchased a new position in shares of First Solar during the 1st quarter valued at approximately $25,000. Smartleaf Asset Management LLC lifted its position in shares of First Solar by 31.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock valued at $47,000 after buying an additional 63 shares in the last quarter. Banque Transatlantique SA purchased a new position in shares of First Solar during the 4th quarter valued at approximately $53,000. CoreFirst Bank & Trust purchased a new position in shares of First Solar during the 4th quarter valued at approximately $54,000. Finally, Princeton Global Asset Management LLC purchased a new position in shares of First Solar during the 1st quarter valued at approximately $51,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on FSLR shares. Roth Mkm reiterated a “buy” rating and set a $280.00 target price on shares of First Solar in a research report on Wednesday, February 26th. Wells Fargo & Company decreased their target price on First Solar from $191.00 to $177.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 30th. JPMorgan Chase & Co. decreased their target price on First Solar from $282.00 to $268.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Citigroup decreased their target price on First Solar from $254.00 to $236.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. Finally, BMO Capital Markets decreased their price objective on First Solar from $200.00 to $187.00 and set an “outperform” rating on the stock in a report on Wednesday, April 30th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $229.19.

First Solar Stock Up 4.5%

Shares of NASDAQ:FSLR opened at $151.18 on Wednesday. The business has a 50-day moving average price of $151.00 and a 200 day moving average price of $156.24. The company has a current ratio of 1.93, a quick ratio of 1.39 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $16.21 billion, a price-to-earnings ratio of 12.86, a PEG ratio of 0.29 and a beta of 1.53. First Solar, Inc. has a 12-month low of $116.56 and a 12-month high of $262.72.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Tuesday, April 29th. The solar cell manufacturer reported $1.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.55). The business had revenue of $844.57 million for the quarter, compared to analyst estimates of $863.11 million. First Solar had a return on equity of 16.32% and a net margin of 29.72%. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the previous year, the business posted $2.20 earnings per share. Sell-side analysts expect that First Solar, Inc. will post 13.05 EPS for the current year.

Insider Buying and Selling

In other First Solar news, insider Patrick James Buehler sold 1,868 shares of First Solar stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $149.08, for a total value of $278,481.44. Following the completion of the transaction, the insider now directly owns 5,998 shares of the company’s stock, valued at $894,181.84. The trade was a 23.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Michael Koralewski sold 2,951 shares of First Solar stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $158.21, for a total value of $466,877.71. Following the completion of the transaction, the insider now directly owns 11,369 shares of the company’s stock, valued at approximately $1,798,689.49. This represents a 20.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,376 shares of company stock valued at $2,227,172. 0.48% of the stock is currently owned by insiders.

About First Solar

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.